French Prime Minister Warns on Altice’s Bid to Buy Bouygues Telecom

Manuel Valls says jobs and network investments must be preserved

PARIS—French Prime Minister Manuel Valls warned Altice SA and Bouygues SA that the French government won’t back any deals in the telecommunications sector that wouldn’t guarantee to preserve jobs and investments in future networks.

Since Sunday, the French government has sent repeated warning shots against Altice’s proposed offer to buy Bouygues’s telecom unit Bouygues Telecom. Altice Monday confirmed it had made an offer for Bouygues Telecom that, according to sources familiar with the matter, is offering to pay around €10...